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Asia shares up despite economic data | |
(about 3 hours later) | |
Asian shares were higher despite news of a deeper than expected recession in Japan and China's trade data coming in below expectations. | |
Revised economic data on Monday showed that Japan's recession was deeper than anticipated. | |
Meanwhile, China's exports and imports in November fell against market forecasts, highlighting a slowing economy. | |
But Japan's benchmark Nikkei 225 traded flat at 17,931.09 points. | |
The index had risen over 18,000 in early trade for the first time since July 2007. | The index had risen over 18,000 in early trade for the first time since July 2007. |
The dollar was steady at 121.580 yen after touching a new seven-year high of 121.86. | |
In China, shares headed higher as investors shrugged off news of the lower than expected trade data. | |
Hong Kong's Hang Seng index was up 0.4% to 24,093.13, while the Shanghai Composite was up 1.4% at 2,979.31. | |
Australian shares led the region's gains, with the benchmark S&P/ASX 200 up 1.1% at 5,392.7. | |
Shares of national carrier Qantas jumped 14% after the airline said it expected to post its best first half profit since 2010 on a faster than anticipated turnaround from 2013's record loss. | |
It predicts underlying first-half profit would be between A$300m ($249m; £160m) and A$350m. | |
In South Korea, the Kospi index was down 0.4% at 1,979.67. |